Beacon CFO Plus

NOVEMBER 30, 2023

How to Divide Responsibilities and Prioritize Communication The relationship between a fractional or outsourced Chief Financial Officer (CFO) and your company’s public accounting firm should be collaborative, clear, and well-defined. This ensures your company’s financial and accounting needs are met effectively.

Accounting Firms 52

Accounting Firms CFO Accounting Prioritization 52

The Charity CFO

MARCH 29, 2024

One of the best ways to get a quick read on your organization’s financial health is to compare your nonprofit budget to actual performance. A budget to actual analysis helps you look at your estimated revenue and expense versus what your organization actually saw. This helps improve donor confidence in your organization.

Nonprofit 52

Nonprofit Budgeting CFO Prioritization 52

CFO Network

MARCH 18, 2024

Rather than allocating resources to recruitment, training, and employee retention, SMBs can choose a flexible payment model that aligns with their budget and needs. Access to Specialized Expertise: Why Outsourcing Matters Another compelling reason to consider outsourced accounting is access to specialized expertise.

Accounting 52

Accounting Prioritization Communication Construction 52

The Charity CFO

APRIL 22, 2024

In addition to communication, you can help reduce burnout by prioritizing employee wellness and mental health. Comparing your nonprofit budget to actual , for example, can help you better understand where resources are going. However, if that’s not in the budget you can provide appreciation by thanking employees.

Nonprofit 52

Nonprofit Budgeting Concentration CFO 52

The Charity CFO

MAY 19, 2023

By monitoring cash flow, nonprofits gain visibility into their financial health and can make informed decisions about resource allocation, budgeting, and planning. This supports informed decisions about spending, budgeting, and resource allocation. and expenses from various sources (salaries, rent, utilities, program costs, etc.).

Cash Management 52

Cash Management Nonprofit Compliance Budgeting 52

The Charity CFO

AUGUST 15, 2023

Not only are accountants included in the management of grants like tracking how the funds are spent, they are also involved in the fundraising process by building budgets to justify the request. Fundraising and accounting typically work in tandem to strategize on what fundraising gaps exist and how to best ask for funding.

Nonprofit 52

Nonprofit Accounting Profit and Loss Budgeting 52

The Charity CFO

JANUARY 21, 2022

Fund accounting is an accounting system created to help not-for-profit organizations and agencies manage streams of revenue designated for specific purposes. . Fund accounting differs from for-profit accounting in that it prioritizes accountability, though it does add some complexity to the bookkeeping and accounting process.

Nonprofit 98

Nonprofit Accounting GAAP Accounting Principles 98